Retail Investors Drive 20% of U.S. Stock Trading in Q3 2025

The assessment is based on a single, highly authoritative and relevant source: the '2026 Outlook: U.S. Stocks and Economy' from Charles Schwab. This report is described as citing data from a 2025 report by Ned Davis Research, a specialized market data firm considered a primary source for this type of statistic. The credibility of both Charles Schwab and Ned Davis Research in financial market analysis provides strong support for the statement.While several other sources provided are from authoritative institutions like the U.S. Bureau of Economic Analysis, Morgan Stanley, and the Brookings Institution, their content is not relevant to the specific claim about U.S. retail stock trading volume. For instance, the BEA provides general economic context, the Morgan Stanley article discusses alternative lending, and other sources are about foreign markets or specific company news.Crucially, none of the provided sources contradict the statement. The absence of conflicting information, combined with the strong, direct support from the Charles Schwab report, makes the statement highly probable. Therefore, the assessment of 'likely_true' is made with high confidence, resting on the quality and specificity of this key piece of evidence.